Article 2 Amendments to Regulation (EU) No 648/2012
Regulation (EU) No 648/2012 is amended as follows:
(1) in Article 50a, paragraph 2 is replaced by the following:
'2. A CCP shall calculate the hypothetical capital as follows:
(2) Article 50b is replaced by the following:
'Article 50b General rules for the calculation of KCCP
For the purpose of calculating KCCP referred to in Article 50a(2), the following provisions shall apply:
(a) CCPs shall calculate the value of the exposures they have to their clearing members as follows:
(i) for exposures arising from contracts and transactions listed in points (a) and (c) of Article 301(1) of Regulation (EU) No 575/2013, CCPs shall calculate the value in accordance with the method set out in Section 3 of Chapter 6 of Title II of Part Three of that Regulation by using a margin period of risk of 10 business days;
(ii) for exposures arising from contracts and transactions listed in point (b) of Article 301(1) of Regulation (EU) No 575/2013, CCPs shall calculate the value (EADi) in accordance with the following formula: